Indiana Code
Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies
27-1-7-14. Bonding Officers Having Access to Money or Securities; Blanket Bond

Sec. 14. All officers and home office employees of every corporation having control of or access to moneys or securities of such corporation in the regular discharge of their duties, shall, before entering upon the performance of their duties, execute their individual bonds with adequate surety payable to the corporation to indemnify the corporation for any pecuniary loss it shall sustain of money or other personal property by any act or acts of fraud, dishonesty, forgery, theft, embezzlement, wrongful abstraction, or willful misapplication. The amount and form of such bonds and the sufficiency of the sureties thereon shall be approved by the board of directors of the corporation and by the department and shall be filed with the department within such time as it may prescribe. In lieu of individual bonds, a blanket bond covering all such officers and employees may be used, subject to the same approval as individual bonds. No officer or director of the corporation shall sign the bond of any other person as surety thereon required by this article. If any bonds required by this section are signed by individuals as sureties, the bonds must contain separate affidavits as to the net worth of each surety.
Formerly: Acts 1935, c.162, s.92. As amended by P.L.252-1985, SEC.30.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies

27-1-7-1. "Corporation" Defined

27-1-7-2. Capacity and Authority to Act; General Rights, Privileges, and Powers; Excluded Powers

27-1-7-3. Principal Office; Change of Location

27-1-7-4. Shares of Stock; Classes; Sale for Less Than Par; Shareholders' Liability; Preemptive Rights

27-1-7-5. Stock Certificate; Contents; Transferability

27-1-7-6. Bylaws

27-1-7-7. Meetings of Shareholders, Members, or Policyholders; Location; Annual Meeting; Special Meetings; Notice; Quorum; Actions Taken Without Meeting

27-1-7-8. Voting Rights of Shareholders; Shares That Cannot Be Voted; Voting by Particular Shareholders; Proxy Votes

27-1-7-9. Voting Rights of Policyholders and Members; Proxy Votes

27-1-7-9.5. Shareholders' Derivative Proceedings; Procedure

27-1-7-10. Board of Directors; General Provisions; Management of Business; Executive Committee; Removal of Directors

27-1-7-11. Citizenship and Residence Qualifications of Directors

27-1-7-12. Directors; Attendance Record and Report; Record of Communications; Annual Examination and Report of Condition

27-1-7-12.5. Directors; Good Faith Discharge of Duties; Liability; Conflict of Interest; Authorization of Unlawful Payments to Shareholders

27-1-7-13. Officers; Secretary; Duties; Resignation; Removal; Contract Rights

27-1-7-14. Bonding Officers Having Access to Money or Securities; Blanket Bond

27-1-7-15. Loans to or Borrowing by Directors or Officers; Offense; Exceptions

27-1-7-16. Books and Records to Be Kept at Principal Office

27-1-7-17. Restrictions on Dividend Payments

27-1-7-18. Repealed

27-1-7-19. Mutual or Stock Companies; Borrowing for Surplus Funds

27-1-7-20. Authority of Corporations, Boards, and Associations to Insure With Mutual Insurance Company

27-1-7-21. Mutual Companies; Statement of Maximum Premium in Policy; Limitation of Liability for Single Risk; Reinsurance Requirements

27-1-7-22. Vouchers for Disbursements

27-1-7-23. Annual or Other Required Statements; Material False Statement